The Internal Revenue Service (IRS) requires gross royalties amount input in Box 2 of the 1099-MISC. There is a tax return Schedule E available from the IRS for Royalties where you can list your deductions and taxes to reach your net taxable value,
Then,Review the Schedule E in Turbotax after entering through the 1099 MISC incomes then you can enter things like production taxes, mineral property taxes, production costs, depletion, etc.["More expenses" radio button generally on depletion screen.]
